SB426 Alabama 2014 Session

Summary

Primary Sponsor

Paul Bussman

Republican

Session

Regular Session 2014

Title

Taxation, Wallace State Community College in Hanceville Future Foundation, exempt from state, county, and local ad valorem taxes, Act 2013-170, 2013 Reg. Sess., am'd.; Sec. 40-9-25.19 am'd.

Summary

SB426 would extend tax exemptions to include the Wallace State Community College in Hanceville Future Foundation, making its property and purchases exempt from state, county, and local taxes.

What This Bill Does

It amends Act 2013-170, Section 40-9-25.19, to exempt the Wallace State Community College in Hanceville Future Foundation from state, county, and local ad valorem taxes on property used for its charitable purposes. It also provides sales and use tax exemptions for purchases by the three foundations (Lurleen B. Wallace Community College Foundation, Wallace State Community College in Hanceville Future Foundation, and Calhoun Community College Foundation) used to further their charitable activities. The exemptions take effect on the first day of the third month after the bill becomes law.

Who It Affects

• Foundations affiliated with Alabama community colleges (the Lurleen B. Wallace Community College Foundation, the Wallace State Community College in Hanceville Future Foundation, and the Calhoun Community College Foundation) would have their property and purchases exempt from ad valorem and sales/use taxes when used for charitable purposes.
• Taxing authorities at the state, county, and local levels would potentially receive less tax revenue due to these exemptions.

Key Provisions

• Amends Section 40-9-25.19 to include the Wallace State Community College in Hanceville Future Foundation among organizations exempt from state, county, and local ad valorem taxes on property used for charitable purposes.
• Provides a sales and use tax exemption for purchases by the three foundations when used to further their charitable purposes.
• Sets the effective date as the first day of the third month after the bill becomes law.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Taxation